Arab Today, arab today ikea founder returns to native sweden
Last Updated : GMT 18:21:53
Arab Today, arab today
Arab Today, arab today

Ikea founder returns to native Sweden

Arab Today, arab today

Arab Today, arab today Ikea founder returns to native Sweden

Stockholm - AFP

Ingvar Kamprad, the 87-year-old rags-to-riches founder of global flat-pack furniture success Ikea, is moving home to his native Sweden after spending close to four decades in Switzerland, he told local media Wednesday. \"I\'m moving back to Sweden to be closer to my family and old friends,\" the retired entrepreneur told Swedish daily Sydsvenskan in a message relayed by his spokesman Per Heggenes. \"Since my dear wife Margareta died about one and a half years ago, there is less and less keeping me in Switzerland,\" he said. Ikea spokeswoman Josefine Thorell confirmed the news to AFP, saying Kamprad had always planned \"to spend the rest of his life in Sweden\" and that he hoped to move \"before the end of the year\". Kamprad earlier this month announced he would step down as chairman from of the Inter Ikea board -- the group that owns the Ikea concept and brand -- handing over the reins to his youngest son Mathias. Heggenes told Sydsvenskan that the octogenarian plans to settle down on his farm in Aelmhult in southern Sweden, where he spent much of his childhood years. \"It\'s a natural step in the last phase of life. Sweden is also a place where the family often gets together,\" Heggenes said. The self-made business magnate founded Ikea in 1943, starting up what would become a world-wide business empire by selling pens and other small commodity products. According to Swiss magazine Bilan, the Swede\'s fortune is today estimated to be worth between 38 billion-39 billion Swiss Francs (30 billion-31 billion euros or $40 billion-$42 billion). Since his move to Switzerland in the 1970s, Kamprad has led a quiet life in the village of Epalinges, near Lausanne. His habit of driving an old Volvo to the supermarket and taking advantage of discounts with a customer loyalty card has earned him a Swedish media reputation of being almost stingy. But although, Kamprad is in the midst of preparing his retirement, he will not totally give up his day job. Upon his resignation from Inter Ikea, he said he would continue to spend time in Ikea stores and factories, and remain on the supervisory board of the Liechtenstein-based Interogo Foundation, which owns the Inter Ikea Group. Once he returns to Sweden, Kamprad will pay Swedish taxes again -- a hot topic ever since he moved from his homeland. \"Ingvar will pay tax on his revenues, just like everyone else in Sweden,\" Heggenes said. Aelmhult mayor Elizabeth Peltola told Swedish tabloid Expressen she was rejoiced by the news. \"It\'s really great and it feels good in the heart.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ikea founder returns to native sweden Arab Today, arab today ikea founder returns to native sweden

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday